{"id":178961,"date":"2018-07-06T20:09:00","date_gmt":"2018-07-07T01:09:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2018\/07\/06\/at-least-there-is-symmetry-2\/"},"modified":"2018-07-06T20:09:00","modified_gmt":"2018-07-07T01:09:00","slug":"at-least-there-is-symmetry-2","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2018\/07\/06\/at-least-there-is-symmetry-2\/","title":{"rendered":"At Least, There is Symmetry"},"content":{"rendered":"

<\/a>It turns out that after his tenure as Treasury Secretary, where he spent his time screwing ordinary people for the benefit of big banks, and now he’s doing that in the private sector<\/a>:<\/p>\n

Sorry if you had anyone else winning in your Most Hideous Career After Leaving the Obama Administration bracket, because Tim Geithner just blew the competition out the water. The Washington Post<\/i> has a detailed and devastating report<\/a>, published Sunday evening, about the predatory lending activities of Mariner Finance, a company \u201cowned and managed by a $11.2 billion private equity fund controlled by Warburg Pincus,\u201d of which Geithner is president. Cool job, Tim!<\/p>\n

So what does Mariner Finance do? It mails checks to poor people, hoping they\u2019ll cash them without reading the fine print\u2014which reveal sky-high interest rates and a clause forcing the lendee to pay the company\u2019s legal fees should it be forced to sue them for their debts. It\u2019s a neat little scam that works in tandem with the other revolting ways America extracts money from its poor. Per the Post:<\/p>\n

\u2026\u2026\u2026<\/p>\n

These loans are very similar to payday loans but aren\u2019t as closely regulated, according to the National Consumer Law Center<\/a>. As the paper explains, \u201cconsumer installment\u201d lenders \u201coffer slightly larger loans\u2014from about $1,000 to more than $25,000\u2014for longer periods of time.\u201d They\u2019re like payday loans, but for bigger amounts and a name that doesn\u2019t immediately reveal how predatory they are.<\/p>\n

Is Geithner\u2019s firm ashamed of its investment in and management of this vile business? Of course not. Warburg Pincus told the Post that \u201cMariner Finance delivers a valuable service to hundreds of thousands of Americans who have limited access to consumer credit.\u201d Worse still, Mariner representatives described the company as fulfilling a \u201csocial need.\u201d<\/span><\/p><\/blockquote>\n

Tim Geitner is really an entitled and evil bastard.<\/p>\n

I really hope that karma catches up with him.<\/p>\n","protected":false},"excerpt":{"rendered":"

It turns out that after his tenure as Treasury Secretary, where he spent his time screwing ordinary people for the benefit of big banks, and now he’s doing that in the private sector: Sorry if you had anyone else winning in your Most Hideous Career After Leaving the Obama Administration bracket, because Tim Geithner just …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[365,368,364,456,437],"class_list":["post-178961","post","type-post","status-publish","format-standard","hentry","tag-business","tag-corruption","tag-evil","tag-finance","tag-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/178961"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=178961"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/178961\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=178961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=178961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=178961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}